AppLovin Completes Sale of Mobile Gaming Business to Tripledot Studios
'We would like to extend our gratitude to our game studios who were an instrumental part of AppLovin's journey,' said Adam Foroughi, Co-founder and CEO of AppLovin.
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'We would like to extend our gratitude to our game studios who were an instrumental part of AppLovin's journey,' said Adam Foroughi, Co-founder and CEO of AppLovin. 'Their love for mobile games fueled our growth, and we wish them continued success with Tripledot Studios. The closing of this transaction streamlines the Company to its core business and allows us to fully focus on the exciting opportunities that will shape and define the future of our company.'
Under the terms of the purchase agreement, AppLovin divested its mobile gaming business, including 10 game studios and their popular mobile gaming franchises, to Tripledot Studios. The gaming studios included in the transaction are Athena Studio, Belka Games, Clipwire Games, Leyi, Lion Studios, Machine Zone, Magic Tavern, PeopleFun, Zenlife Games, and Zeroo Gravity, which collectively develop popular mobile games across various genres including Hexa Sort, Wordscapes, Clockmaker, Cooking Madness, West Game, Project Makeover and others.
Aream & Co acted as lead financial advisor, and GoodGame Advisors LLC and Belzberg Capital LLC also served as financial advisors to AppLovin. Wilson Sonsini Goodrich & Rosati acted as lead counsel, and Dissmann Orth, Wolff Schultze Kieferle, and Maples Group acted as local counsel to AppLovin.
About AppLovin
AppLovin makes technologies that help businesses of every size connect to their ideal customers. The company provides end-to-end software and AI solutions for businesses to reach, monetize and grow their global audiences. For more information about AppLovin, visit: www.applovin.com.
Source: AppLovin Corp.
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